Nutraceuticals Market Report

Global Nutraceuticals Market: 

The global nutraceuticals market size reached US$ 468.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 856.3 Billion by 2032, exhibiting a growth rate (CAGR) of 6.7% during 2024-2032.

Nutraceuticals are products derived from food sources that provide health benefits and additional nutrition to the human body. They are commonly available in dairy-based concentrates, confectionery fruit and vegetable juice, energy drink, and snack bar variants. They are a rich source of various nutrients, such as vitamins, minerals, antioxidants, zinc, and calcium, which improve the overall health of consumers. Nutraceuticals are widely used to delay aging, improve health, prevent chronic diseases, increase life expectancy and increase metabolism. They also assist in combating various chronic medical ailments, such as allergies, high cholesterol levels, hypertension, obesity, heart disease, cancer, osteoporosis, and diabetes. Nutraceuticals are widely available in the form of capsules, powder, liquid tablets, soft gels, and gummies. They are widely consumed due to their enhanced safety, efficacy, purity, health promotion, and disease curing activities. In comparison to the traditionally used pharmaceuticals, nutraceutical products are natural and have improved physiological benefits with minimal or no side effects.

The Increasing Demand for Healthy and Nutrient-rich Diet Acts as a Key Nutraceuticals Market Trend: 

The market is primarily being driven by the rising consumer awareness regarding the health benefits of nutraceutical products. Nutraceuticals are widely consumed by individuals of all age groups as they include the required amount of vitamins, minerals, fiber, and proteins. Additionally, the increasing product demand for various functional food products, such as fats and oils, snacks, cereals, dairy products, baby food, and meat, is favoring the market growth. Due to the hectic lifestyles and busy schedules of the consumers, there is a rising requirement for ready-to-consume nutraceutical products. The shift is further being facilitated by the increasing western influence, growing middle-class population, rapid urbanization, and rising expenditure capacities of the consumers. The market is also driven by significant growth in the food and beverage industry. Nutraceuticals are widely used for on-the-go snacks that contain additional nutrients to provide instant energy boost and nutrition to the consumers.

Rising Geriatric Population and Increasing Prevalence of Lifestyle Diseases to Propel the Market Growth: 

The rising geriatric population prone to various chronic diseases, such as arthritis, diabetes, cholesterol, obesity, cardiovascular diseases and cancer, is propelling the market growth. Moreover, nutraceuticals contain high amounts of fibers and minerals, which assist in easier bowel movements providing critical cleansing of internal organs, which in turn is positively impacting the market growth. Apart from this, the rising health consciousness among the masses and the shifting consumer preference towards dietary supplements concentrated nutrition sources, and products benefiting immunity and physical health is driving the growth of the market. Furthermore, the shifting consumer preference from chemically derived products to naturally sourced preventive healthcare products, such as nutraceuticals that contain safer and healthier ingredients, are positively impacting the market growth.

Product Advancements and Innovations Creating a Positive Outlook for the Market

Various product innovations, such as the development of liquid capsules, that aid in speeding up the manufacturing process and allowing the same capsule to have multiple blends to increase the potency is favoring the market growth. These liquid capsules are also sealed to improve their shelf life by preventing oxidation and protecting the contents and the integrity of the ingredients. Moreover, the increasing demand for personalized nutrition is providing a thrust to the market growth. Personalization of nutrition offers an entire nutritional plan tailored to the needs of the individual and is widely adopted by consumers with allergic reactions to particular foods. Moreover, multiple key players are focusing on expanding their production capacity by pursuing mergers and acquisitions. For instance, Tesco announced its intention to use the Clubcard information to track various chronic illnesses that consumers pay heed to for the provision of tailored solutions to promote healthier eating habits. This acquisition not only aids consumer-based organizations to provide personalized dietary advice but also establishes significant partnerships with different pharmaceutical companies to help personalize over-the-counter (OTC) supplements.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global nutraceuticals market report, along with forecasts at the global and country levels from 2024-2032. Our report has categorized the market based on product and indication.

Breakup by Product:

• Personalized Foods
  • Bakery Products
  • Confectionery
  • Dairy Products
  • Oil & Fats
  • Snack Bars
  • Other Foods
• Personalized Beverages
  • Chocolate Based FP Drinks
  • Bottled Water
  • Concentrates
  • Energy Drinks
  • Fruit Vegetable Juices
  • RTD Tea
  • Sports Drinks
  • Others
     

On the basis of products, the market has been bifurcated into personalized foods and beverages. Some of the popularly consumed personalized foods include dairy products, confectionery, bakery products, oil and fats, snack bars, and other products. On the other hand, widely preferred personalized beverages include nutrient-enhanced water drinks, chocolate-based FP drinks, concentrates, juices, energy, and sports drinks, and RTD tea.

Breakup by Indication:

• Digestive and Immune Health
• Energy & Alertness Health
• Heart Health
• Bone & Joint
• Cognitive Health
• Beauty Health
   

Based on indications, the market has been classified into the digestive and immune, energy and alertness, heart, bone and joint, cognitive, and beauty health segments. At present, products for enhancing digestive and immune health dominate the market.

Regional Insights:

• United States
• Germany
• United Kingdom
• France
• Spain
• Italy
• Japan
• China
• Russia
• India
• Brazil
• Mexico
   

On the geographical front, the United States enjoys the leading position in the market on account of the growing population in the country driven by greater longevity and net migratory inflow. Other major regions include Germany, the United Kingdom, France, Spain, Italy, Japan, China, Russia, India, Brazil and Mexico.

Key Players:

• Danone
• Kirin Holdings Company Limited
• Mondelez International Inc.
• Morinaga Milk Industry Co. Ltd.
• Nestle
• Otsuka Pharmaceutical Co. Ltd.
• PepsiCo Inc.
• The Coca-Cola Company
• Yakult Honsha Company Limited
   

Report Coverage: